Yamana and Pan American Shareholders Approve Proposed Transaction
31 Januar 2023 - 10:20PM
Yamana Gold Inc. (TSX:YRI; NYSE:AUY; LSE:AUY) (“Yamana” or the
“Company”) is pleased to announce that at a special meeting of
shareholders held earlier today (“the Meeting”), Yamana
shareholders voted overwhelmingly in favour of the special
resolution (the “Arrangement Resolution”) approving the previously
announced acquisition by Pan American Silver Corp. (“Pan American”)
of all of the issued and outstanding common shares of the Company
following the sale by Yamana of its Canadian assets, including
certain subsidiaries and partnerships which hold Yamana’s interests
in the Canadian Malartic mine, to Agnico Eagle Mines Limited
(“Agnico Eagle”), all by way of a plan of arrangement under the
Canada Business Corporations Act (the “Proposed Transaction”).
The Arrangement Resolution was approved by
approximately 98.87% of the votes cast by Yamana shareholders at
the Meeting, with shareholder turnout of 61.59%. Detailed voting
results for the Arrangement Resolution are as follows:
|
Total Votes |
Percentage of Votes Cast |
Votes For |
585,197,047 |
98.87% |
Votes Against |
6,713,855 |
1.13% |
Total Votes Cast |
591,910,902 |
100.00% |
In addition to the approval by Yamana
shareholders, Pan American shareholders approved the issuance of
Pan American common shares in connection with the Proposed
Transaction at a special meeting of Pan American shareholders held
earlier today. No approval is required from Agnico Eagle
shareholders for the Proposed Transaction.
Peter Marrone, Executive Chairman, Yamana Gold
commented, “I would like to thank the Yamana shareholders for their
support and express my gratitude to each and every member of the
Yamana team, past and present, who have been a part of this
incredible journey. I am truly proud of everything we have achieved
together, having taken Yamana from a single asset to a senior gold
producer in less than two decades. Through this transaction with
Pan American and Agnico Eagle, I believe we have delivered a value
enhancing opportunity for our shareholders, in a market that is not
currently rewarding growth, whilst also establishing the critical
mass and scale that this sector desperately needs for future
success. Following the positive outcome of the shareholder votes
today, we look forward to working closely with the Pan American and
Agnico Eagle leadership as we progress this transaction through to
completion.”
The Proposed Transaction is expected to be
completed during the first quarter of 2023, subject to approval by
the Ontario Superior Court of Justice, approval from the Mexican
Federal Economic Competition Commission (COFECE) and satisfaction
or waiver of certain other closing conditions.
For a more detailed description of the Proposed
Transaction, please review the Company’s management information
circular dated December 20, 2022 (the “Circular”)
available under Yamana’s issuer profile on www.sedar.com or on the
Company’s website at www.yamana.com.
About Yamana
Yamana Gold Inc. is a Canadian-based precious
metals producer with significant gold and silver production,
development stage properties, exploration properties, and land
positions throughout the Americas, including Canada, Brazil, Chile
and Argentina. Yamana plans to continue to build on this base
through expansion and optimization initiatives at existing
operating mines, development of new mines, the advancement of its
exploration properties and, at times, by targeting other
consolidation opportunities with a primary focus in the
Americas.
FOR FURTHER INFORMATION PLEASE
CONTACT:
Investor Relations
416-815-02201-888-809-0925Email: investor@yamana.com
FTI Consulting (UK Public Relations)Sara Powell
/ Ben Brewerton+44 7974 201 715223 / +44 203 727 1000
This news release contains or incorporates by
reference “forward-looking statements” and “forward-looking
information” under applicable Canadian securities legislation and
within the meaning of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking information
includes, but is not limited to information with respect to
expected completion date of the Proposed Transaction.
Forward-looking statements are characterized by words such as
“plan", “expect”, “budget”, “target”, “project”, “intend”,
“believe”, “anticipate”, “estimate” and other similar words, or
statements that certain events or conditions “may” or “will” occur.
Forward-looking statements are based on the opinions, assumptions
and estimates of management considered reasonable at the date the
statements are made, and are inherently subject to a variety of
risks and uncertainties and other known and unknown factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors
include transaction risks, risks relating to the completion of the
Proposed Transaction, including receipt of all necessary
regulatory, court and securityholder approvals in connection with
the Proposed Transaction, as well as those risk factors discussed
or referred to herein, in the Circular and in the Company's Annual
Information Form filed with the securities regulatory authorities
in all provinces of Canada and available at www.sedar.com, and the
Company’s Annual Report on Form 40-F filed with the United States
Securities and Exchange Commission. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update forward-looking statements if circumstances or
management’s estimates, assumptions or opinions should change,
except as required by applicable law. The reader is cautioned not
to place undue reliance on forward-looking statements.
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